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Square 1 Bank Announces Credit Facility to MapAnything

September 29, 2017, 08:00 AM
Filed Under: Software

Square 1 Bank, a division of Pacific Western Bank, announced that it has provided a revolving line of credit to new client MapAnything, Inc., a leader in geo-productivity and intelligence solutions for business. The $6 million facility is available to support the company's future working capital needs and complements its $33,100,000 Series B equity financing which closed in January 2017.

Headquartered in Charlotte, NC, MapAnything’s geo-productivity software for Salesforce and ServiceNow drives productivity across multiple use cases including sales, service and operations. Founded in 2009, MapAnything provides a suite of location-aware applications to drive revenue and productivity for field-based work, while tracking all business activities, decisions and procedures through the CRM workflow. MapAnything is backed by leading investors including Columbus Nova Technology Partners, Greycroft Partners, Harbert Growth Equity, Salesforce Ventures and ServiceNow Ventures.

“Building a high-growth SaaS business requires access to capital to fuel growth,” said Chris Rosbrook, chief financial officer of MapAnything. “Our partnership with Square 1 and this new credit facility will ensure we deliver the best possible shareholder returns while we continue to grow our business rapidly.”

“MapAnything’s software increases client productivity by enabling users to leverage their Salesforce data to schedule more appointments and boost revenue,” added Dhruv Patel, vice president in Square 1’s technology banking practice. “With an experienced leadership team and solid investor backing, MapAnything is poised for significant growth and success. We look forward to serving as their financial services partner during this exciting time.”

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